Xcel Energy Inc Stock Forecast
Stronger technical forecast for Xcel Energy Inc stock price after Friday trading.
(Updated on May 03, 2024)
The Xcel Energy Inc stock price gained 0.86% on the last trading day (Friday, 3rd May 2024), rising from $53.79 to $54.25. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.36% from a day low at $53.55 to a day high of $54.28. The price has risen in 7 of the last 10 days but is still down by -0.86% for this period. Volume fell on the last day by -566 thousand shares and in total, 3 million shares were bought and sold for approximately $160.22 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $54.84 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.38% during the next 3 months and, with a 90% probability hold a price between $42.19 and $50.79 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
XEL Signals & Forecast
The Xcel Energy Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $54.14 and $53.56. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.95%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Xcel Energy Inc stock
Xcel Energy Inc finds support from accumulated volume at $52.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.730 between high and low, or 1.36%. For the last week the stock has had daily average volatility of 1.63%.
Our recommended stop-loss: $52.16 (-3.85%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (XEL) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Xcel Energy Inc to open at $54.03, and during the day (based on 14 day Average True Range), to move between $53.19 and $55.31, which gives a possible trading interval of +/-$1.06 (+/-1.95%) up or down from last closing price. If Xcel Energy Inc takes out the full calculated possible swing range there will be an estimated 3.89% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $55.01 (1.40%) than the support at $52.69 (2.88%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Xcel Energy Inc stock A Buy?
Xcel Energy Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.983 Hold/Accumulate Upgraded
Predicted Opening Price for Xcel Energy Inc of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $54.03 ( 0.412%) | $54.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XEL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54.76 | 0.93 % | |
| R2 | 54.48 | 0.420 % | ||
| R1 | 54.31 | 0.102 % | ||
| Current price: | 54.25 | |||
| Support | S1 | 53.75 | -0.93 % | |
| S2 | 53.58 | -1.24 % | ||
| S3 | 53.30 | -1.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 58.28 | 7.43 % | |
| R2 | 57.67 | 6.30 % | ||
| R1 | 55.01 | 1.40 % | ||
| Current price | 54.25 | |||
| Support | S1 | 52.69 | -2.88% | |
| S2 | 49.57 | -8.63% | ||
| S3 | 48.44 | -10.71% |
XEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 14, 2024 | Apr 20, 2024 | $0.548 | 1.00% |
| 2 | Dec 13, 2023 | Dec 28, 2023 | Jan 20, 2024 | $0.520 | 0.87% |
| 3 | Dec 13, 2023 | Dec 27, 2023 | Jan 20, 2024 | $0.520 | 0.87% |
| 4 | Aug 23, 2023 | Sep 15, 2023 | Oct 20, 2023 | $0.520 | 0.90% |
| 5 | Aug 23, 2023 | Sep 14, 2023 | Oct 20, 2023 | $0.520 | 0.90% |
FAQ
Click here for our free guide on how to buy Xcel Energy Inc Stock.
